News & Analysis as of

Deed of Trust Mortgages Mortgage Lenders

Patton Sullivan Brodehl LLP

Lenders Have No Duty to “Process, Review, and Respond Carefully and Completely” to Loan Modification Applications

One of the unresolved issues over the past several years in the realm of lender liability law is whether lenders owe tort duties to borrowers in connection with loan modification applications. Until now, case law has been all...more

Patton Sullivan Brodehl LLP

Lender Has No Duty to Monitor and Correct Public Records

Mortgage lenders tend to pay a lot of attention to the real property securing their loans, as they should. Before the loan is made, lenders scrutinize the property to evaluate whether its fair market value will support the...more

Snell & Wilmer

Mortgagee-Protection Clauses Are Not Dead in Nevada Nonresidential Property Owners’ Associations

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For the last several years, there has been a tremendous amount of litigation in Nevada arising from residential foreclosure sales conducted by homeowners’ associations (HOA). The main issue in those cases has been whether the...more

Williams Mullen

Partial Subordination: A Circuitous Route to a Fair Result

Williams Mullen on

In Futuri Real Estate, Inc. v. Atlantic Trustee Servs., LLC, borrowers Milton and Armida Cortez (the “Borrowers”) obtained three loans secured by separate deeds of trust on their residence: (A) a $415,000 deed of trust in...more

Patton Sullivan Brodehl LLP

A Loan In Default Can Still Be Assigned

Borrowers looking to invalidate a foreclosure sale often come up with interesting theories. One frequent strategy is to attack the validity of a prior assignment of the underlying note and deed of trust. As explained in...more

Bradley Arant Boult Cummings LLP

Nevada Supreme Court Rules Bank Tender Defeats HOA Superpriority Lien

As lenders and servicers continue to litigate in Nevada’s state and federal courts about the effect of homeowner associations’ (HOAs) foreclosure sales, some questions have proven particularly sticky. What happens when a...more

Patton Sullivan Brodehl LLP

Not All Deed of Trust Attorney Fee Clauses are Created Equal

Lenders who prevail on claims arising from a deed of trust can always recover their attorney fees from the losing party as long as the deed of trust says something about fee recovery, right? It’s not that simple....more

Snell & Wilmer

Everyone Wins When a Foreclosure Sale Generates Excess Proceeds

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When a foreclosure sale generates more money than needed to pay off the lien, the excess proceeds usually go first to creditors in the order of their priority, and second to the owner after creditors are paid in full. So, in...more

Bradley Arant Boult Cummings LLP

Fourth Circuit Asked to Rule on Whether Mortgage Retroactively Incorporates Federal Servicing Requirements

A recent appeal to the Fourth Circuit may shed light on whether Virginia borrowers can assert federal mortgage servicing requirements as a defense to foreclosure when the mortgage instrument pre-dates the federal requirement....more

Ward and Smith, P.A.

Your Foreclosure Hearing Just Got More Crowded

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On August 30, 2017, an amendment to North Carolina’s foreclosure statutes took immediate effect. The amended statute, Section 45-10, concerns substitute trustees under a deed of trust. As amended, Section 45-10 now prohibits...more

Ballard Spahr LLP

Nev. Supreme Court Holds HOA Foreclosure Statute Constitutional, Splits with Ninth Circuit

Ballard Spahr LLP on

The Nevada Supreme Court has upheld the constitutionality of Nevada's pre-2015 statutory scheme for homeowners association (HOA) foreclosures. This decision contradicts the Ninth Circuit Court of Appeals' conclusion that the...more

Ballard Spahr LLP

Nevada Supreme Court Accepts Certified Question in HOA Lien Litigation Case – Should the SFR Decision Apply Retroactively?

Ballard Spahr LLP on

We previously reported on the Nevada Supreme Court’s decision in SFR Investments Pool 1, LLC. v. U.S. Bank, N.A., holding that a homeowners association (HOA) lien is a true super-priority lien that upon foreclosure...more

Bradley Arant Boult Cummings LLP

Nevada Supreme Court Reverses Course on MERS

The Nevada Supreme Court recently reversed – or at least clarified – the impact of MERS in Nevada under the approach set forth in the Restatement (Third) of Property: Mortgages. The Supreme Court had held in 2012 that at the...more

Bradley Arant Boult Cummings LLP

Notice Me: The New Notice Requirements for HOA Lien Foreclosures in Nevada

In a previous blog post, we reported on Senate Bill 306, passed by Nevada Governor Brian Sandoval on May 28, 2015. The legislation redresses the substantial harm caused by SFR Investments Pool 1, LLC v. U.S. Bank, N.A. In SFR...more

Ballard Spahr LLP

Nevada Senate Passes Bill Affecting Super-Priority Liens in Foreclosure

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The Nevada Legislature recently passed a bill intended, in part, to address issues resulting from the Nevada Supreme Court’s decision that a homeowners association lien is a true super-priority lien that, if foreclosed,...more

Bradley Arant Boult Cummings LLP

Borrowers Cannot Challenge Mortgage Assignments, Says Nebraska Joining Other States

Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS,...more

Stoel Rives LLP

Compliance with California Foreclosure Recording Law: What Level of "Defect" in Foreclosure Recordings "Void" a Foreclosure Sale?

Stoel Rives LLP on

In the wake of the California foreclosure crisis, one of several arguments relied on by borrowers facing foreclosure (and their attorneys) in “wrongful foreclosure” suits has been that some aspect of the statutory foreclosure...more

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